Asked by: Wes Streeting (Labour - Ilford North)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what plans he has to change the rate of VAT applied to electricity for domestic and residential use or for non-business use by a charity.
Answered by Jesse Norman
Under the current VAT rules, electricity for domestic use is subject to the reduced rate of 5 per cent. Although all taxes are kept under constant review, the Government has no current plans to change the VAT treatment of electricity.
Asked by: Wes Streeting (Labour - Ilford North)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what plans he has to change the rate of VAT applied to ship repairs and maintenance.
Answered by Jesse Norman
The repair and maintenance of qualifying ships and aircraft already benefit from zero-rating of VAT; further information is contained in VAT notice 744C. There are no plans to change the VAT treatment of ships and aircraft at present.
Asked by: Wes Streeting (Labour - Ilford North)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what plans he has to change the rate of VAT applied to aircraft repair and maintenance.
Answered by Jesse Norman
The repair and maintenance of qualifying ships and aircraft already benefit from zero-rating of VAT; further information is contained in VAT notice 744C. There are no plans to change the VAT treatment of ships and aircraft at present.
Asked by: Wes Streeting (Labour - Ilford North)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what plans he has to change the rate of VAT applied to the renovation or alteration of empty residential premises.
Answered by Jesse Norman
Consumers already benefit from a reduced VAT rate of 5 per cent on residential construction under certain conditions. This includes conversions of buildings from one use to another, and the renovation of properties that have been empty for two years or more prior to the renovation work.
Going further would be very expensive: reducing VAT on all property renovation, repairs and improvements would cost the Exchequer approximately £6 billion per year. Although all taxes are kept under review, the Government has no plans to change the VAT treatment of construction at this time.
Asked by: Wes Streeting (Labour - Ilford North)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what discussions he has had with representatives of the gambling industry on tackling money laundering in that industry; and if he will make a statement.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
The UK’s anti-money laundering (AML) and counter-terrorist financing (CTF) supervisory regime is comprehensive, seeking to regulate and supervise those firms most at risk from money laundering and terrorist financing. In December 2018, the Financial Action Task Force (FATF), the global standard-setter for AML/CTF, found that the UK had one of the toughest systems for combatting money laundering and terrorist financing of any country it has assessed to date.
The Gambling Commission is the supervisory authority for casinos under the Money Laundering Regulations (MLRs). The FATF Mutual Evaluation Report found that the Gambling Commission had a good understanding of the money laundering and terrorist financing risks in the gambling sector and applied a risk-based approach to supervision.
The Gambling Commission supervises the casino sector and regulates the gambling industry as a whole. It conducts a yearly money laundering and terrorist financing risk assessment based on emerging and inherent risks in the gambling industry. This evaluation informs its supervisory and regulatory activity ensuring it is targeted, relevant and proportionate. In the reporting period of 6 April 2018 - 5 April 2019, the Gambling Commission issued financial penalties worth £17 million in total against its supervised population for cases that included AML/CTF failings.
In his time as Chancellor of the Exchequer, the Chancellor has not had personal discussions with the Home Secretary, the Secretary of State for Digital, Culture, Media and Sport or representatives of the gambling industry on money laundering, though there are regular official level engagements focussed on identifying these risks and demonstrating evidence of continued improvements in their effectiveness, as there are with all AML supervisors.
Asked by: Wes Streeting (Labour - Ilford North)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what discussions he has had with the (a) Home Secretary and (b) Secretary of State for Digital, Culture, Media and Sport on tackling money laundering in the gambling industry; and if he will make a statement.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
The UK’s anti-money laundering (AML) and counter-terrorist financing (CTF) supervisory regime is comprehensive, seeking to regulate and supervise those firms most at risk from money laundering and terrorist financing. In December 2018, the Financial Action Task Force (FATF), the global standard-setter for AML/CTF, found that the UK had one of the toughest systems for combatting money laundering and terrorist financing of any country it has assessed to date.
The Gambling Commission is the supervisory authority for casinos under the Money Laundering Regulations (MLRs). The FATF Mutual Evaluation Report found that the Gambling Commission had a good understanding of the money laundering and terrorist financing risks in the gambling sector and applied a risk-based approach to supervision.
The Gambling Commission supervises the casino sector and regulates the gambling industry as a whole. It conducts a yearly money laundering and terrorist financing risk assessment based on emerging and inherent risks in the gambling industry. This evaluation informs its supervisory and regulatory activity ensuring it is targeted, relevant and proportionate. In the reporting period of 6 April 2018 - 5 April 2019, the Gambling Commission issued financial penalties worth £17 million in total against its supervised population for cases that included AML/CTF failings.
In his time as Chancellor of the Exchequer, the Chancellor has not had personal discussions with the Home Secretary, the Secretary of State for Digital, Culture, Media and Sport or representatives of the gambling industry on money laundering, though there are regular official level engagements focussed on identifying these risks and demonstrating evidence of continued improvements in their effectiveness, as there are with all AML supervisors.
Asked by: Wes Streeting (Labour - Ilford North)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what discussions he has had with the Home Secretary and the Secretary of State for Digital, Culture, Media and Sport on effective data sharing between gambling operators to tackle money laundering in the gambling industry; and if he will make a statement.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
The UK’s anti-money laundering (AML) and counter-terrorist financing (CTF) supervisory regime is comprehensive, seeking to regulate and supervise those firms most at risk from money laundering and terrorist financing. In December 2018, the Financial Action Task Force (FATF), the global standard-setter for AML/CTF, found that the UK had one of the toughest systems for combatting money laundering and terrorist financing of any country it has assessed to date.
The Gambling Commission is the supervisory authority for casinos under the Money Laundering Regulations (MLRs). The FATF Mutual Evaluation Report found that the Gambling Commission had a good understanding of the money laundering and terrorist financing risks in the gambling sector and applied a risk-based approach to supervision.
The Gambling Commission supervises the casino sector and regulates the gambling industry as a whole. It conducts a yearly money laundering and terrorist financing risk assessment based on emerging and inherent risks in the gambling industry. This evaluation informs its supervisory and regulatory activity ensuring it is targeted, relevant and proportionate. In the reporting period of 6 April 2018 - 5 April 2019, the Gambling Commission issued financial penalties worth £17 million in total against its supervised population for cases that included AML/CTF failings.
In his time as Chancellor of the Exchequer, the Chancellor has not had personal discussions with the Home Secretary, the Secretary of State for Digital, Culture, Media and Sport or representatives of the gambling industry on money laundering, though there are regular official level engagements focussed on identifying these risks and demonstrating evidence of continued improvements in their effectiveness, as there are with all AML supervisors.
Asked by: Wes Streeting (Labour - Ilford North)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, when he plans to publish the next edition of the Climate Change Levy and Carbon Price Floor bulletin.
Answered by Kemi Badenoch - President of the Board of Trade
The ongoing challenges of the COVID-19 pandemic have resulted in significant reductions in data availability impacting the production of Climate Change Levy (CCL) and Carbon Price Floor (CPF) statistics. Because of this, the publication of the Climate Change Levy (CCL) and Carbon Price Floor (CPF) Bulletin, which was scheduled for June 2020, was cancelled.
If sufficient data becomes available to produce the publication ahead of the next planned date of December 2020, the Government will make a further announcement.
Asked by: Wes Streeting (Labour - Ilford North)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether it is his policy to not raise the rates of (a) income tax, (b) National Insurance and (c) VAT during the 2019 Parliament.
Answered by Jesse Norman
The Government’s priority is to support people and businesses throughout this crisis. As the Chancellor has said, a new national collective effort has begun: to reopen the country and kickstart the economy. As part of this, the Treasury continues to keep all taxes under review, and the Chancellor will update Parliament on tax policy decisions at future budgets.
Asked by: Wes Streeting (Labour - Ilford North)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether it is his policy to maintain the triple lock on pensions.
Answered by Steve Barclay - Secretary of State for Environment, Food and Rural Affairs
The Government is committed to ensuring that older people are able to live with the dignity and respect they deserve.
Since 2010, the State Pension has been uprated by the highest of average earnings growth, price inflation or 2.5% - an approach known as the Triple Lock. The value of the State Pension is £1,903.20 a year higher than it was in 2010. In total, the Government will spend around £100 billion on the State Pension, and close to £127 billion on overall benefits for pensioners in 2020-21.
The Government provides support for older people, such as Winter Fuel Payments, free eye tests and NHS prescriptions, and free bus passes. The Government also provides Pension Credit for pensioners with low incomes. Pension Credit is an income-related benefit paid out of general taxation and targets help at the poorest pensioners who, for whatever reason, have been unable to save for their retirement.
With regards to the future of the Triple Lock, as with all aspects of Government policy, any decisions on future changes will be taken as part of an annual Budget process in the context of the wider public finances.